Browsing: Eritrea

Eritrea’s debt stands at 175 per cent of its GDP.

This is very high for the agriculture-based economy.

Eritrea is an outlier on the African continent. Unfortunately for the Horn of Africa country, it is not for good reasons. The nation has held on to a counterproductive form of government which has retrogressed the country economically and kept its people in poverty.

The country maintains a political system which is largely autocratic in nature and is not a democracy by any stretch of the imagination. The country was at war with Ethiopia and only recently managed to broker a peace dea...

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When the Covid-19 pandemic sent the global economy into a recession, the East Africa region was not spared.

According to UN Economic Commission for Africa’s Economic and Social Impacts of Covid-19 in Eastern Africa report, the region’s labour market has been the worst hit on the continent, with an estimated 38 million jobs lost.

Presenting the report during the 24th Meeting of the Intergovernmental Committee of Senior Officials and Experts, Mama Keita, head of ECA in Eastern Africa, said that the region will barely grow in 2020 with only four countries on track to experience positive growth in 2020.

Read: Internet economy Africa’s saving grace

South Sudan leads with 4.1 per cent GDP growth, followed by Ethiopia and Tanzania with close to 2 per cent and Kenya with 1 per cent.

Eastern Africa’s growth will slow down considerably to 0.6 per cent in 2020 from 6.6 per cent …